$JSEDRD - DRD Gold: Will The Laggard Play Catch-Up?
See link below for previous analysis.
Gold and JSE Gold gold stock have been on a strong run lately.
DRD clearly did not get the memo as the stock is trending up but very slowly comapared to its peers and with the tailwinds provided by the gold price.
When such a disconnect occurs, one needs to take a deep look into the fundamentals which is beyond the scope of this analysis.
From an Elliott Wave perspective;
The bull run from 864 to 2546 cps is in five wave for wave 1.
The bear from 2546 to 1200 is for wave 2.
The current rally is the early stage of wave 3.
I will maintain a bullish stance above 1200 though with low conviction.
Gold and JSE Gold gold stock have been on a strong run lately.
DRD clearly did not get the memo as the stock is trending up but very slowly comapared to its peers and with the tailwinds provided by the gold price.
When such a disconnect occurs, one needs to take a deep look into the fundamentals which is beyond the scope of this analysis.
From an Elliott Wave perspective;
The bull run from 864 to 2546 cps is in five wave for wave 1.
The bear from 2546 to 1200 is for wave 2.
The current rally is the early stage of wave 3.
I will maintain a bullish stance above 1200 though with low conviction.
